Retirement Community Tax Deduction

Jul 23, 2013 … Entrance and monthly fees may be tax deductible for residents if funds are used for medical care.

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Retirement Communities May Provide Big Tax … they also may be eligible for tax deductions. … which is the case at many Continuing Care Retirement Communities, …

Medical expense tax deductions: A guide for senior living providers and residents. However, residents of a continuing care retirement community ("CCRC") often make payments in a given tax year in order to receive care in future years.

Jul 7, 2017 … Tax Deductions at a CCRC. Unlike other independent living communities that only offer living accommodations, amenities and non-medical services such as housekeeping, Continuing Care Retirement Communities provide all these things plus a care continuum that typically includes assisted living, skilled …

Mar 20, 2018 … It's that much-anticipated time of year again…tax season! If you are considering a continuing care retirement community (also known as a CCRC or life plan community), there is an important tax consideration that you may not be aware of. Many new CCRC residents can qualify for a tax deduction on their …

The recent federal tax reform bill has introduced other wrinkles for the creative

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Oct 31, 2017 … Continuing care retirement communities, also called CCRCs or life plan communities, provide services spanning the full continuum of care. New residents of CCRCs typically live fully or mostly independently, and are often still quite active in many cases, but have assisted living, memory care, and/or skilled  …

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Retiree talks about elimination of medical expense tax deductionThis includes consideration of the spending needed to support essential services like education and healthcare and the types of expenditures required to spur community … steady the sales tax? What existing tax credits, deductions, …

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Continuing care retirement communities, also called CCRCs or life plan communities, provide services spanning the full continuum of care. Yet, the availability and size of the tax deduction depends in large part on the type of residency contract offered by the community.